Chapter 3 Review
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Created by:
aanderson3 on October 5, 2009
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19 terms
Terms | Definitions |
|---|---|
 outsourcing | Contracting with other companies for services. |
| corporate venture | A new venture started inside a large corporation. |
| strategic alliance | Forming a partnership with another company. |
| innovation | Finding new ways to do things. |
| niche | A small specialized market. |
| brainstorm | Thinking freely to generate ideas |
| opportunity | Idea that has commercial potential. |
| demographics | Personal characteristics that describe a population. |
| trade magazine | A periodical published for specific types of businesses or industries. |
| specialty magazine | A periodical that targets people with special interests. |
| trade show | A place where vendors and manufacturers introduce new items and promote established products. |
| goodwill | Customer loyalty. |
| franchisee | The buyer of a franchise. |
| franchisor | The seller of a franchise. |
| business broker | Someone whose job is to bring buyers and sellers of businesses together. |
| business plan | A document prepared to determine feasibility of a new venture. |
| trust | One of the major advantages to a family-run business. |
| 41 million | Number of businesses conducted from home. |
| 46% | The amount small businesses that use the internet have grown faster than those that do not. |
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